Savings Account FAQs & Basics

The Importance of a High Yield Savings Account Amid a Booming Stock Market Learn why a high-yield savings account remains a key part of your financial setup even when the stock market is booming and you're getting great returns. Building Savings vs. Pay Down Debt: Which is Better When You Have Extra Cash Photo of Simon Zhen Simon Zhen Building Savings vs. Pay Down Debt: Which is Better When You Have Extra Cash When you have extra cash to help better your finances, you may be left with...

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NCUSIF Deposit Insurance: How Your Money in Credit Union is Protected Learn about deposit insurance at credit unions provided by the NCUA and NCUSIF, which act similar to FDIC deposit insurance coverage for banks. Deposit Insurance Fund (DIF): Protecting Deposits in Addition to FDIC Insurance – in Massachusetts Learn how the Deposit Insurance Fund (DIF) works in conjunction with deposit insurance from the FDIC to protect depositors at certain Massachusetts banks. Where to Find the Cash to Build a Last-Minute Emergency Fund Photo of Geoff Williams Geoff Williams Where to Find the Cash to Build a Last-Minute Emergency Fund Probably for most of your adult life, you’ve heard the urgent advice – save... What is a Sinking Fund? How to Use It as Part of Your Budget Photo of Kevin Mercadante Kevin Mercadante What is a Sinking Fund? How to Use It as Part of Your Budget Just about everyone is familiar with the key concept of a budget. If it’s... How Much You Should Save Up to Pay for Graduate School Tuition Find out how much you have to save if you want to pay for graduate school tuition, board, and other living expenses without taking on more student loan debt. How Much to Save Up for a Disney Vacation Find out how much you need to save up in order to pay for a Disney vacation, based on the flight, hotel accommodations, and dining options on your trip. Average Cost of College Tuition: How Much Do You Have to Save? Photo of Valencia Patrice Higuera Valencia Patrice Higuera Average Cost of College Tuition: How Much Do You Have to Save? There’s no denying the cost of getting a college degree. As a parent,... Ultra Short-Term Bonds vs. Savings & CDs: Which Offer Better Returns? Photo of Kevin Mercadante Kevin Mercadante Ultra Short-Term Bonds vs. Savings & CDs: Which Offer Better Returns? When looking for a place to park short-term funds, you may often turn to bank... How to Prepare Financially and Save for Maternity Leave Find out about how you can prepare financially and save for maternity leave as pregnancy enters the final stages -- preventing you from working for many weeks. How Much to Save for the Perfect Honeymoon Without Going Into Debt Learn how you can save for the perfect honeymoon vacation to celebrate your marriage without taking on a large amount of debt -- including tips to cut costs. How to Beat the 52-Week Savings Challenge Photo of Thomas (TJ) Porter Thomas (TJ) Porter How to Beat the 52-Week Savings Challenge Saving can be difficult for a lot of people. There’s a reason that more... How to Set Up a Savings Account for a Teenager Photo of Valencia Patrice Higuera Valencia Patrice Higuera How to Set Up a Savings Account for a Teenager Teaching kids how to save money is an important step for future financial... 529 Plan vs. Coverdell Education Savings Account (ESA): Which Is Better For Future Education Expenses? Learn the differences between 529 college savings plans and Coverdell Education Savings Accounts (ESAs) when it comes to saving for your child's education. The Best Ways to Use Your Year-End Bonus Check Learn about the best ways to use the big year-end bonus check so that you can use it to improve your finances - by increasing your savings or cutting down debt. Should You Always Switch Banks in the Best Savings Rates? Photo of Thomas (TJ) Porter Thomas (TJ) Porter Should You Always Switch Banks in the Best Savings Rates? You're making it a point to maximize your savings by keeping money in the top online... How to Keep a Secret Bank Account Photo of Aja McClanahan Aja McClanahan How to Keep a Secret Bank Account Have you ever needed a a secret bank account? That’s right: A bank account that... Foreign Bank Accounts: Reporting & Tax Rules That You Have to Worry About If you have (or are thinking about) a foreign bank account, learn about the rules regarding reporting and taxes to ensure that the IRS doesn't come after you. How Much to Save Up Before Moving Out On Your Own As someone who wants to move out of the parents‘ house, find out exactly how much savings you should have before hitting this key life milestone. Are Rewards Savings Accounts Better Than High Yield Savings Accounts? Photo of Rebecca Lake Rebecca Lake Are Rewards Savings Accounts Better Than High Yield Savings Accounts? Opening a savings account can put you on the path to reaching your financial... Should You Consider a Safe Box For Your Home? Photo of Ben Luthi Ben Luthi Should You Consider a Safe Box For Your Home? It's commendable that you're protecting your money by stashing it in a savings... How to Set Up a Wedding Savings Account Learn how you can create a the right savings account that will help you establish a wedding fund, including what account to pick and how to stay on track. What Would Be Considered a Financial Emergency? Now that you've been able to save up for an emergency fund, learn about the different situations when you it makes sense to use that money. The Dangers of Keeping Too Much Cash at Home Photo of Kevin Mercadante Kevin Mercadante The Dangers of Keeping Too Much Cash at Home Millions of people keep cash home rather than a savings account. For most, it’s a... Can You Pay Bills Directly from a Savings Account? Photo of Thomas (TJ) Porter Thomas (TJ) Porter Can You Pay Bills Directly from a Savings Account? Sometimes when you’re in a financial crunch you’ll need to tap your savings account... 4 Savings Strategies for People with Low Income If you don't have high income, learn about the different ways that you can still build up your savings to reach your financial goals. How Immigrants Can Open a Bank Account Without a Social Security Number As an immigrant without the traditional methods of providing a tax ID, learn how you can still open a bank account to help manage your finances in the U.S. Should Couples Open Joint Savings Accounts? Photo of Valerie Ashton Valerie Ashton Should Couples Open Joint Savings Accounts? Among the things that couples disagree or argue about, money is a top...